Direct Deposit to ING Direct

[cube_rat]

I've been toying with the idea of having my paychecks direct deposited into my ING account instead of Washington Mutual. I would transfer chunks of money from ING to WAMU only to pay bills. I want to maximize my float as much as I can. I don't think there's a restriction on the amount of transfers to and from ING. Anyone here do something similar to what I'm proposing?

 

[maddythebeagle]

Savings and money market accounts have restrictions of 6 withdrawals per month.

I direct deposit into my regular checking and pay bills and send payments to my investment accounts and then move money to HSBC or ING.

 

[cube_rat]

Oh darn, I didn't think there would be restrictions. Thanks Maddy

 

[Calgary_Girl]

Savings and money market accounts have restrictions of 6 withdrawals per month.

I have an ING account in Canada and there are no restrictions on the number of withdrawals. I don't know anything about the their U.S. accounts so Maddy could be right.

 

[maddythebeagle]

Details About the Orange Savings Account ("OSA"):

Limits on Withdrawals/Transfers from Your OSA: Pursuant to Federal law, you're only allowed to take money out of your OSA 6 times per monthly statement cycle ("Cycle"). If you repeatedly make more than 6 withdrawals during a Cycle, we may close your account.

- this is regulation D and apparently, dont have in canada My credit union sends me a friendly reminder when I get to 5 withdrawals on my savings account. Some banks will even charge you a fee if you go over 6.

 

[MJ]

Through PFCU, I created 6 CD's pulling my funds from Emigrant Direct using ACH. I didn't realize that Emigrant would treat them as individual ACH withdrawals. By the end of the month, I had made a total of 11 withdrawals.
The following month I got a boilerplate letter from Emigrant threatening to take me out me if I did it again.

MJ

 

[maggieddd]

OK, so how do you make a direct deposit to your ING account? Anyone know?

 

[cute fuzzy bunny]

Click on the savings account you want direct deposit to, you'll see a link for 'direct deposit form'. That has the info your payroll processor needs to DD to your ing account.